Trends and Tax Buoyancy in Corporation Tax in Pre- and Post-Liberalization Periods in India

M Suresh and Nabeela Khan

The IUP Journal of Public Finance, 2011, vol. IX, issue 2, 44-59

Abstract: Taxation is a major instrument of economic policy. Corporate income tax is an important source of tax revenue in India. It contributes more revenue than the personal income tax and its share in total tax revenue has been growing rapidly in the recent years. Examining the trend in the growth of corporate income tax, substantial improvement was observed in the post-liberalization period vis-a-vis pre-liberalization period. The buoyancy of corporate income tax with respect to GDP, in the post-reform period shows improvement over the pre-reform period. Further, the study shows that there is positive relationship between tax revenue and GDP and inflation, while there is a negative relationship between tax revenue and broad money.

Date: 2011
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